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Jacksonville Industrial Market Report (Q1 2021)4 May 2021
Total industrial vacancy in Jacksonville has declined by 58 basis points (bps) since the end of 2020 to 5.4%, the second lowest rate of Florida’s largest metros behind Miami. Leasing activity was fairly brisk during the first quarter with 18 new leases signed that exceeded 10,000 square feet (sf), the largest of which is a new 278,237-sf sortation center that will soon be underway in Cecil Commerce Center for e-commerce powerhouse Amazon. Investment activity over the last quarter was also solid with five sales above $10 million.